Cobalt rush: raw materials and the transition to net zero

Contributor(s): Quentin Noirfalisse, Dr Richard Perkins, Anneke Van Woudenberg | The decarbonisation of the transportation sector is a vital component in achieving the goals set out in the Paris Agreement. Consequently, governments around the world are pushing forward the transition away from combustion engine to electric vehicles. However, the production of electric vehicles necessitates the use of raw materials, such as cobalt. The movie sheds light into the human and environmental consequences of mining cobalt. Further, the mineral deposits on land are highly concentrated in just a few countries, making their global availability dependent on trade relationships and vulnerable to supply disruptions that may result from export restrictions, political instability or natural disasters. Such supply challenges have the potential to delay the transition to net zero, but also hold implications for the financial system and its stability.